Paramount Gold Nevada Corp. announced that the Technical Review Team of the Oregon Department of Geology and Mineral Industries has approved installation of deep monitoring wells at its 100%-owned Grassy Mountain Gold Project. Drilling will begin shortly. Water quality monitoring data is required as part of the process of preparing a Consolidated Permit Application for construction and operation of a proposed underground mine. Paramount expects to initiate the Consolidated Permit Application preparation later this year. Work is also progressing on schedule for completion of a Pre-Feasibility Study for the Grassy Mountain Gold Project before year end. The PFS is a highly detailed analysis of all the key parameters involved in constructing and operating a mine including projected capital and operating costs, production levels and the expected economic return under different scenarios. The PFS will form a central component of the Consolidated Permit Application. A 29-hole drill program was initiated in November, 2016 as part of the PFS to better define the Grassy Mountain deposit's high grade gold zone and potentially expand its size; acquire material for PFS-level metallurgical testing needed to design the gold recovery process; and obtain geotechnical data on rock stability for underground mine design and mining methodology. Major Drilling is currently operating three rigs on site. The PFS will only use measured and indicated mineralized material as the basis for the mine design and economic analysis. Paramount expects a positive PFS report which would include estimated proven and probable reserves. In the water-monitoring program, five newly constructed wells and one existing well, will be used to evaluate and model: vertical gradients, hydraulic connectivity, aquifer static water levels, and groundwater quality. The construction of these wells will comply with the State of Oregon monitoring well construction by a licensed Monitoring Well Constructor having at minimum five years of experience drilling monitoring wells of greater than 500 feet deep. One well to be constructed on BLM managed lands is awaiting BLM authorization, which is expected shortly. Throughout the process, an on-site geologist will collect and evaluate drill cuttings for geologic interpretation at 5-foot intervals and at each significant change in lithology.